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Singapore is benefiting from the rapid growth of artificial intelligence. Its prime minister wants to make sure its people are as well.<\/span><\/p>\n That\u2019s according to a <\/span>report<\/span><\/a> Saturday (Aug. 8) from Bloomberg News, citing a National Day message from <\/span>Prime Minister Lawrence Wong<\/span><\/a> that day ahead of the country\u2019s 61st year of independence.<\/span><\/p>\n He said that Singapore\u2019s government is using AI to ensure more productivity and better jobs for people concerned about their livelihoods. Wong added that the city-state\u2019s leadership is examining its approach to industry and trade, and ways to boost its competitiveness.<\/span><\/p>\n \u201cNew breakthroughs are creating opportunities that were unimaginable just a few years ago, even as they raise new challenges and questions,\u201d he said. \u201cWe cannot stand still while others move ahead. But neither should we accept every new technology uncritically. Singapore will embrace these advances on our own terms.\u201d<\/span><\/p>\n His comments come as business leaders are scaling back some of their earlier concerns about AI-related job losses.\u00a0<\/span><\/p>\n A report last month by The Wall Street Journal (WSJ) cited a survey by EY-Parthenon showing a decrease in the number of CEOs who think AI will lead to <\/span>major job losses<\/span><\/a>, from 46% in January 2025 to 20% in May.<\/span><\/p>\n \u201cThey may have noticed that the labor market is genuinely not changing (i.e., imploding) as rapidly as they expected,\u201d said <\/span>David Autor<\/span><\/a>, a professor of economics at MIT, told WSJ. \u201cThey may have realized it was simply bad business to say that your great new product will destroy the economy.\u201d<\/span><\/p>\n In addition, a study by payments FinTech <\/span>Ramp<\/span><\/a> and workforce-intelligence firm <\/span>Revelio Labs<\/span><\/a> found that companies making the largest AI investments expanded their staffing levels by around 10%. As PYMNTS wrote in June, the main pattern emerging at companies such as Google, Box and IBM isn\u2019t displacement.<\/span><\/p>\n \u201cIt\u2019s a new <\/span>organizational layer<\/span><\/a> sitting between foundation models and business operations, staffed by roles that require both technical depth and the judgment to make AI useful inside a specific enterprise context,\u201d that report said. \u201cThat layer didn\u2019t exist three years ago. It\u2019s now one of the fastest-growing parts of the labor market.<\/span><\/p>\n Meanwhile, research from PYMNTS Intelligence\u2019s Wage to Wallet collaboration with <\/span>Ingo Payments<\/span><\/a> and <\/span>WorkWhile<\/span><\/a>, found that only 40% of front-line and hourly workers in the <\/span>Labor Economy<\/span><\/a> believe they could find comparable employment if <\/span>displaced because of AI<\/span><\/a>.<\/span><\/p>\n For all PYMNTS AI coverage, subscribe to the daily <\/em>AI\u00a0Newsletter<\/a>.<\/em><\/p>\n<\/div>\n Singapore is benefiting from the rapid growth of artificial intelligence. Its prime minister wants to make sure its people are as well. That\u2019s according to…<\/p>\n","protected":false},"author":1,"featured_media":75350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-75349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/75349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=75349"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/75349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/75350"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=75349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=75349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=75349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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